bakers - Neighbourhood Retailer https://neighbourhoodretailer.com The authoritative voice of the grocery industry in Northern Ireland Fri, 24 Jun 2022 09:40:39 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 https://neighbourhoodretailer.com/wp-content/uploads/2020/05/cropped-NR-SIte-Icon-2-32x32.png bakers - Neighbourhood Retailer https://neighbourhoodretailer.com 32 32 178129390 People cut back on food shopping as price rises hit budgets https://neighbourhoodretailer.com/people-cut-back-on-food-shopping-as-price-rises-hit-budgets/ Fri, 24 Jun 2022 09:40:39 +0000 https://neighbourhoodretailer.com/?p=22672 Shoppers are cutting back on food spend as the rising cost of living bites into budgets, according to the Office for National Statistics. Nearly half

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Shoppers are cutting back on food spend as the rising cost of living bites into budgets, according to the Office for National Statistics.

Nearly half of adults surveyed by the Office for National Statistics (ONS) say they have bought less food in the past fortnight due to higher prices.

The price of food was also the most common reason for why those asked were seeing their monthly outgoings rising overall, the ONS said.

The ONS said its feedback from supermarkets also suggested customers were spending less on their food shop because of the rising cost of living.

It found that sales in supermarkets dropped 1.5% in May, with a 2.2% fall in specialist shops such as butchers and bakers. Retail sales overall fell by 0.5% in May.

Prices overall are continuing to rise at their fastest rate for 40 years, with UK inflation at 9.1%, the highest level since March 1982.

Fuel and energy prices are the biggest drivers of inflation, but food costs drove the most recent rise in May, with prices for bread, cereal and meat climbing.

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